ForexAnalytixPipczar

ForexAnalytixPipczar

Intraday Update: USDMXN has rallied to the 50dma and top of the resistance zone. If it is to turn lower, it would be near here. A break above the 16.80 may illicit a squeeze higher.

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Intraday Update: SOX is at the 161% Fibonacci extension. Many traders are looking at new highs on the index, we are seeing key Fib level and divergent RSI.

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Intraday Update: A bear flag pattern is developing in the gold market which could influence the US Dollar (bullish) on a breakdown of the gold market.

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Intraday Update: The DXY rising trend line comes in at 104.20, it is key channel support for bulls near term.

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Intraday Update: The rally in the NZDUSD has a divergent RSI intraday, and also has a key resistance at .6171 which is the 61.8% retracement of the Dec 2023 highs to April 2024 lows.

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Intraday Update: A bull flag pattern is picking up steam o n the EURUSD with the 1.0900 key resistance coming into view today. A break of this level would put the 1.0936 level in play next.

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Intraday Update: The CADJPY is nearing the key 115.10 resistance, despite the brief new trend high, the risk is a rejection of the 61.8% Fibonacci retracement just above.

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Intraday Update: The USDNOK is at the 127% extension at 10.4900 level, the 61.8% longer term support is just below at 10.47, divergent RSI's intraday may suggest a near term bounce.

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Intraday Update: The GBPUSD is back challenging the recent trend highs and 78% retracement at 1.2767 in thin liquidity. Intraday RSI's divergent which is a risk for bulls.

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Intraday Update: Bear flag pattern is in play on the Nikkei225 This should allow for a move back to the 36700 level (and then some)

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23 May: Intraday Update: A possible false breakdown of the USDNOK and hold of the longer term 50% retracement at 10.59 may allow for a squeeze back to the 10.7500 level now.

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Intraday Update: The SPX could trade to the 5380 level, the 127% extension of the April range. With NVDA earnings behind us, and the 5280's holding yesterday, the risk remains for a move higher.

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Intraday Update: Ethereum has broken higher after a multi day consolidation under the 78% retracement. The break higher should put the **% retracement in view at 3964.

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Intraday Update: Silver hit the 30.20 key support and is bouncing from this major breakout level. While above the 30 level the risk is for a move back above 31.00.

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Intraday Update: The Nikkei is flirting with flag support. A breakdown lower could put a bid in the #JPY. This market is underperforming the ROW for the most part which is a departure from most of 2023.

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Intraday Update: The German DAX is getting very close to the 18550 neckline of the head and shoulder pattern. A break lower may coincide with SPX below 5280

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Intraday Update: The EURUSD has broken down out of a triangle consolidation. Support comes in at 1.0810 with key PMI data being released on Thursday.

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The EURUSD is in a longer term symmetrical triangle pattern which has key resistance at the 1.1000 level and support down at 1.0630. Near term, the 1.0898 level is capping the rally, and if broken this week could allow for the 1.1000 level to be tested. A break back below the 200 and 50dma could allow for a move back to the 1.0630 triangle support.